Ferro (NYSE:FOE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $27.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.99% from the stock’s previous close.

According to Zacks, “FERRO CORP. is a worldwide producer of specialty materials for industry by organic and inorganic chemistry. It operates in 21 countries worldwide. Ferro produces a variety of specialty coatings, colors, ceramics, plastics, chemicals, and related products and services. Ferro’s most important product is frit produced for use in porcelain enamels and ceramic glazes. Ferro specialty materials require a high degree of technical service on an individual customer basis. “

A number of other equities research analysts also recently issued reports on FOE. KeyCorp restated an “overweight” rating and set a $27.00 price target (up from $23.00) on shares of Ferro in a research note on Friday, October 13th. ValuEngine downgraded Ferro from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $23.80.

Ferro (FOE) traded down $0.02 during trading on Thursday, hitting $24.11. The company’s stock had a trading volume of 442,400 shares, compared to its average volume of 453,438. The company has a market cap of $2,020.00, a P/E ratio of 46.37 and a beta of 1.94. Ferro has a 1-year low of $13.55 and a 1-year high of $25.50. The company has a current ratio of 2.48, a quick ratio of 1.53 and a debt-to-equity ratio of 1.94.

Ferro (NYSE:FOE) last released its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. The business had revenue of $350.01 million during the quarter, compared to the consensus estimate of $332.28 million. Ferro had a return on equity of 35.77% and a net margin of 3.44%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. equities research analysts forecast that Ferro will post 1.29 EPS for the current fiscal year.

In other Ferro news, CEO Peter T. Thomas sold 22,182 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $22.83, for a total value of $506,415.06. Following the completion of the transaction, the chief executive officer now directly owns 374,158 shares in the company, valued at approximately $8,542,027.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald P. Vargo sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $24.13, for a total value of $289,560.00. Following the completion of the transaction, the director now owns 43,450 shares of the company’s stock, valued at $1,048,448.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,428 shares of company stock valued at $4,192,872. 2.02% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Copper Rock Capital Partners LLC boosted its stake in Ferro by 3.6% in the 4th quarter. Copper Rock Capital Partners LLC now owns 1,529,897 shares of the specialty chemicals company’s stock worth $36,044,000 after purchasing an additional 53,066 shares during the period. Algert Global LLC bought a new position in Ferro in the 3rd quarter worth approximately $2,233,000. Insight Capital Research & Management Inc. bought a new position in Ferro in the 3rd quarter worth approximately $1,438,000. Neuberger Berman Group LLC bought a new position in Ferro in the 3rd quarter worth approximately $401,000. Finally, Argent Capital Management LLC boosted its stake in Ferro by 8.8% in the 3rd quarter. Argent Capital Management LLC now owns 188,405 shares of the specialty chemicals company’s stock worth $4,201,000 after purchasing an additional 15,310 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

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About Ferro

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.

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